GERMONPRE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GERMONPRE
Largest movements
- Tangible fixed assets +€217,440
up €217,440 (+85.7%), from €253,670 to €471,111
of which Leasing and similar rights: +€193,577
- Cash +€98,065
up €98,065 (+102.4%), from €95,750 to €193,815
mainly Depreciation (+€106,215) and Debts after one year (+€99,137)
- Receivables within one year -€32,768
down €32,768 (-11.1%), from €294,783 to €262,016
of which Trade receivables: -€51,686
- Current investments +€18,000
up €18,000 (+43.8%), from €41,099 to €59,099
- Debts after one year +€99,137
up €99,137 (+92.4%), from €107,245 to €206,382
- Trade debts +€98,019
up €98,019 (+187.8%), from €52,188 to €150,208
- Other debts +€38,525
up €38,525 (+37.9%), from €101,614 to €140,139
- Current portion of long-term debt +€29,072
up €29,072 (+49.5%), from €58,686 to €87,759
- Reserves +€26,174
up €26,174 (+10.3%), from €253,783 to €279,957
of which Distributable reserves: +€26,174
- Staff costs +€70,802
up €70,802 (+44.9%), from €157,515 to €228,318
- Depreciation +€52,926
up €52,926 (+99.3%), from €53,289 to €106,215
- Taxes -€37,352
down €37,352 (-59.2%), from €63,137 to €25,785
- Financial charges +€11,045
up €11,045 (+162.1%), from €6,812 to €17,857
of which Financial charges: +€11,595
- Gross operating margin +€6,609
up €6,609 (+1.4%), from €471,370 to €477,979
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €709,251 | €1,017,299 | +€308,048 | +43.4% |
| Fixed assets | 21/28 | €268,615 | €486,056 | +€217,440 | +80.9% |
| Tangible fixed assets | 22/27 | €253,670 | €471,111 | +€217,440 | +85.7% |
| Plant, machinery and equipment | 23 | €15,432 | €27,098 | +€11,666 | +75.6% |
| Furniture and vehicles | 24 | €238,238 | €250,436 | +€12,198 | +5.1% |
| Leasing and similar rights | 25 | - | €193,577 | +€193,577 | |
| Financial fixed assets | 28 | €14,945 | €14,945 | = | 0.0% |
| Current assets | 29/58 | €440,635 | €531,243 | +€90,608 | +20.6% |
| Stocks and contracts in progress | 3 | €9,003 | €9,493 | +€490 | +5.4% |
| Stocks | 30/36 | €9,003 | €9,493 | +€490 | +5.4% |
| Amounts receivable within one year | 40/41 | €294,783 | €262,016 | -€32,768 | -11.1% |
| Trade receivables | 40 | €293,139 | €241,452 | -€51,686 | -17.6% |
| Other amounts receivable | 41 | €1,645 | €20,563 | +€18,919 | +1150.2% |
| Current investments | 50/53 | €41,099 | €59,099 | +€18,000 | +43.8% |
| Cash at bank and in hand | 54/58 | €95,750 | €193,815 | +€98,065 | +102.4% |
| Deferred charges and accrued income | 490/1 | - | €6,820 | +€6,820 | |
| Total equity and liabilities | 10/49 | €709,251 | €1,017,299 | +€308,048 | +43.4% |
| Equity | 10/15 | €274,783 | €300,957 | +€26,174 | +9.5% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €253,783 | €279,957 | +€26,174 | +10.3% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €241,783 | €267,957 | +€26,174 | +10.8% |
| Amounts payable | 17/49 | €434,468 | €716,342 | +€281,875 | +64.9% |
| Amounts payable after more than one year | 17 | €107,245 | €206,382 | +€99,137 | +92.4% |
| Financial debts | 170/4 | €107,245 | €206,382 | +€99,137 | +92.4% |
| Amounts payable within one year | 42/48 | €327,223 | €509,961 | +€182,738 | +55.8% |
| Current portion of amounts payable after more than one year | 42 | €58,686 | €87,759 | +€29,072 | +49.5% |
| Trade debts | 44 | €52,188 | €150,208 | +€98,019 | +187.8% |
| Suppliers | 440/4 | €52,188 | €150,208 | +€98,019 | +187.8% |
| Taxes, remuneration and social security | 45 | €114,734 | €131,855 | +€17,121 | +14.9% |
| Taxes | 450/3 | €101,966 | €102,190 | +€224 | +0.2% |
| Remuneration and social security | 454/9 | €12,768 | €29,665 | +€16,897 | +132.3% |
| Other amounts payable | 47/48 | €101,614 | €140,139 | +€38,525 | +37.9% |
| Non-recurring operating income | 76A | €10,723 | €413 | -€10,310 | -96.1% |
| Remuneration, social security and pensions | 62 | €157,515 | €228,318 | +€70,802 | +44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,289 | €106,215 | +€52,926 | +99.3% |
| Other operating charges | 640/8 | €10,747 | €10,604 | -€143 | -1.3% |
| Non-recurring operating charges | 66A | €52,090 | €25,822 | -€26,269 | -50.4% |
| Gross operating margin | 9900 | €471,370 | €477,979 | +€6,609 | +1.4% |
| Operating profit (loss) | 9901 | €197,729 | €107,022 | -€90,707 | -45.9% |
| Financial income | 75/76B | €130 | €2,073 | +€1,943 | +1490.9% |
| Recurring financial income | 75 | €130 | €2,073 | +€1,943 | +1490.9% |
| Financial charges | 65/66B | €6,812 | €17,857 | +€11,045 | +162.1% |
| Recurring financial charges | 65 | €6,262 | €17,857 | +€11,595 | +185.2% |
| Non-recurring financial charges | 66B | €551 | - | -€551 | |
| Profit (loss) for the period before taxes | 9903 | €191,047 | €91,238 | -€99,809 | -52.2% |
| Income taxes | 67/77 | €63,137 | €25,785 | -€37,352 | -59.2% |
| Profit (loss) for the period | 9904 | €127,910 | €65,453 | -€62,457 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €127,910 | €65,453 | -€62,457 | -48.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.